Millennials will be 75% of the global workforce within the next ten years. By next year, they will account for 36% of the American workforce.1 So it’s safe to assume that your small business will likely hire at least one millennial employee in the near future. But why should you?
Every generation has a unique personality and Millennials have distinctive traits. They are often economic, political, technologically advanced and extremely influenced by culture. In fact, they are considered more optimistic than past generations — 41% report being satisfied with the way things are going in the country.1
Millennials are the most diverse generation to date — 11% have at least one immigrant parent.1 This makes them more tolerant of race, more sensitive to cultural issues and increasingly passionate about improving the position of minorities.
Although science suggests that multitasking is impossible, Millennials are apt to switch tasks so quickly that they appear as if they’re doing them simultaneously. Studies even suggest that Millennials are rewiring their brains because of how rapidly they are completing tasks.
Did you know that 75% of Millennials have a social networking profile?1 This generation has mastered expressing themselves well on multiple platforms, including face-to-face and online. Does your business have an online presence or need a customer service representative? You may have met your match.
5. Meaningful Work Trumps All
30% of Millennials say that doing meaningful work is more important than most things in the workplace — including a high paying salary.1 If they feel they are doing impactful work and are given the opportunity to lead, they will feel happier and more in tune with their co-workers and projects.
6. Increased Collaboration
As much as Millennials like to lead and work independently, they equally enjoy working in teams and collaborating. In fact, 74% prefer to collaborate in small groups — an ideal trait for your small business.2
Did you know that within the next decade 41% of the workforce will be working from home? Currently, 13.4 million Americans work from home. In the near future, this will be the norm and Millennials prefer this arrangement. 92% of Millennials want to work remotely and 87% like being on their own schedule.
8. Charity and Community
It’s no secret that Millennials are heavily involved in supporting their communities and volunteering with local organizations. This is ideal for your small business, seeing as how you should be involved in charitable efforts and community outreach.
9. Constant Feedback
Although your small business should already be providing employees with consistent feedback, your millennial employees will require it. Millennials will request reviews in real-time so that they are aware of their successes and areas of improvement.
10. Pushing the Digital Envelope3
Millennials are the first generation to grow up with the Internet and other emerging technologies. Many of them have digital and social media experience, which can help your small business build an online presence. They have a greater insight and fresher perspective that may help you connect to your audience.
1U.S. Chamber of Commerce Foundation. (2015). The millennial generation research review. Retrieved May 12, 2015 from http://www.uschamberfoundation.org/millennial-generation-research-review
2Schawbel, D. (16 December 2013). 10 ways millennials are creating the future of work. Retrieved May 12, 2015 from http://www.forbes.com/sites/danschawbel/2013/12/16/10-ways-millennials-are-creating-the-future-of-work/
3Susman, S. (6 April 2015). Why hiring millennials could be good for business. Retrieved May 12, 2015 from http://fortune.com/2015/04/06/sally-susman-advice-to-millennials/